The global carmine market is expected to reach $80.11 million

Dublin, April 24, 2024 (GLOBE NEWSWIRE) — The report “Global Carmine Market, Size, Forecast 2024-2032, Industry Trends, Share, Growth, Insight, Impact of Inflation, Company Analysis” has been added to ResearchAndMarkets.com’s to offer.

The carmine market is expected to grow substantially, with an expected value of approximately US$80.11 million by the year 2032. A compound annual growth rate (CAGR) of 6.44% is expected between 2024 and 2032. This is attributed to the widespread use of carmine in various industries including food and beverages, textiles, cosmetics and pharmaceuticals.

The main catalyst for this expansion is the surge in demand within the food and beverage sector, particularly in the meat industry, where carmine is widely used as a coloring agent. With increasing consumer preference for natural and organic products, carmine’s role as a natural colorant in food processing has been particularly emphasized, avoiding artificial alternatives and adhering to strict regulatory standards. Innovations and regional growth

Innovations such as vegan carmine are also driving growth and creating economic significance within the beverage, confectionery and chewing gum industries. The European market dominates the carmine industry, indicating robust demand that is expected to continue. With the Asia-Pacific region expected to witness rapid growth, countries such as China, India, Japan and South Korea are becoming major players in the global carmine market.

Insights into industrial applications

The oil and fat sector stands out as an important application area for carmine, due to its stability and solubility. Similarly, the food processing industry is expected to witness a remarkable increase, further driven by the increasing acceptance of carmine as a natural coloring agent.

Major players in the sector

The global carmine market consists of influential companies that are making strides in production and innovation. These market participants contribute to the growth and expansion of the carmine market through strategic developments and investments in research and product improvements. Their efforts are critical to the continued acceptance of carmine in various end-use industries.

This market analysis provides an in-depth overview of the current landscape and future projections, providing valuable insights into evolving consumer preferences and the movement towards more sustainable and ethical product choices. The comprehensive breakdown by application, form, end-users and country provides a detailed insight into carmine’s integral role in the global market.

Most important features:

Companies highlighted

• Clariant AG
• B.C. Hansen Holding A/S
• Naturex (Givaudan)
• Sensient Technologies Corporation
• The Hershey Company
• Biocon
• Amerilure
• DDW Kleurhuis

For more information about this report, visit https://www.researchandmarkets.com/r/ultz05

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